MSE | Wednesday, 15 July 2009

GlobalCapital Financial Management Ltd - Malta Stock Exchange Review

The local market ends slightly higher

Yesterday, during the second session of the week, the Malta Stock Exchange index managed to stay above water by 0.03% to reach 2951.33 points. The banking sector witnessed a mixed session while the shares of GO p.l.c. closed on the back foot. MaltaPost p.l.c. shares traded higher on low volume whereas the shares of Simonds Farsons Cisk p.l.c. closed unchanged.
On the banking front, the share price of Bank of Valletta p.l.c. increased €1c0 to settle at the €2.68 level across a handful of trades which totalled to 60 shares. At market close, best unsatisfied bids stood at €2.60 for 190 shares against best offers of 2,000 shares at €2.669. Week on week, the share price of Bank of Valletta p.l.c. gained 1.71% from its closing price of €2.635 on Tuesday 7th July.
Large-cap HSBC Bank Malta p.l.c. maintained its previous session price at €2.61 after 5,020 shares worth €13,102 were swapped in five transactions. On Tuesday 14th July HSBC Bank Malta p.l.c. announced that the Board of Directors is scheduled to meet on Friday 31st July 2009 to approve the Group’s and the Bank’s Interim Accounts for the half-year ending 30th June 2009. Furthermore the Board of Directors shall consider the declaration of an interim dividend.
Remaining on the banking front, Lombard Bank Malta p.l.c. traded fractionally lower by €0c1 to close at €2.549. The turnover amounted to 7,000 shares and carried a market value of €17,843. Week on week, the share price of Lombard Bank p.l.c. lost 0.04% from its closing price of €2.55 on Tuesday 7th July.
On a positive note, the shares of MaltaPost p.l.c. had the best performance of the day. A total of 1,000 shares changed hands across one deal as the share price climbed €4c0 to settle at the €0.71 level. At the end of trading, bids for 791 shares stood at €0.61, whereas the best offer for 3,529 shares stood at €0.71.
On the other side of the spectrum, the shares of GO p.l.c. were under pressure after its share price slipped €2c0 at €1.80 across 5,000 shares. On Thursday 9th July GO p.l.c. announced that Forgendo Limited, has acquired a further 293,550 shares in Forthnet S.A. issued share capital, for a total consideration of €537,284.57. Furthermore, on Tuesday 14th July, GO p.l.c. announced that Forgendo Limited, has acquired a further 300,000 shares in Forthnet S.A. issued share capital, for a total consideration of €575,370.
The most liquid stock of the day was Simonds Farsons Cisk p.l.c. A volume of 10,000 shares changed hands across a single trade. The share price preferred to stay on the sidelines and closed unchanged at €1.68.
On Friday 10th July, Tumas Investments p.l.c. announced that the allotment policy for the issue of €20 million 6.25% Bonds 2014 – 2016, which opened for public subscription, on Friday 3rd July 2009 closed immediately due to an overwhelming demand. The Issuer decided to exercise the over-allotment option for an additional €5 million, taking the total aggregate amount of the Bond Issue to €25 million. The Company received 3,429 applications for the Bond Issue for an aggregate total of €37.15 million, which is €12.15 million in excess of the total aggregate amount of €25 million on offer. Interest on the Bonds will commence on 10th July 2009. The dispatch of allotment advices and refunds of unallocated monies will be made by Friday 17th July 2009 at the very latest. The Bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on Wednesday 22nd July 2009, and trading to commence on the following business day, Thursday 23rd July 2009 at the latest.
In the fixed interest market, a total of €145,582 (seventeen deals) were transacted in Corporate Bonds. Meanwhile, a total of €440,377 (twelve deals) were transacted in Government Bonds.
The turnover value in the Treasury Bill market amounted to €253,830.

Issued by GlobalCapital Financial Management Ltd, 120 The Strand, Gzira, GZR1027 for information purposes only and is not intended to constitute any financial, legal or tax advice. This write up is not to be taken as investment advice to buy or sell any investment. Investors should seek professional advice prior to taking investment decisions and should note that the value of investments may fall as well as rise. Readers who would like more information are invited to send an E-mail to [email protected] or Tel: 21 342342. GlobalCapital Financial Management Ltd is a member of the Malta Stock Exchange and is licensed by the Malta Financial Services Authority (MFSA).


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15 July 2009


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